Chairman of Cork Airport Authority to resign

CORK AIRPORT Authority chairman Joe Gantly yesterday announced
that he is to resign from the post at the end of July but insisted
that his decision had nothing to do with a recent divisive vote to
accept a plan which will see the authority accept a € 113
million loan debt.

The authority issued a statement yesterday morning, saying Mr
Gantly had told the board that he had informed the Minister for
Transport, Noel Dempsey, that he will be standing down at the end
of July, having completed five years of service.

"When I was appointed as chairman designate of the Cork Airport
Authority in August 2003, my objective was to expand the number of
routes out of Cork, to increase passenger numbers, to open the new
terminal and to bring Cork airport to the point of separation from
the Dublin Airport Authority," said Mr Gantly in the statement

"Having achieved those objectives, I feel that it is now timely
for me to stand down and allow the process of identifying and
appointing a new chairman to happen."

A CAA spokeswoman categorically denied any suggestion that Mr
Gantly's decision to step down was related to the highly divisive
vote earlier this month when the CAA decided by six votes to five
to accept a series of recommendations by former trade union leader
Peter Cassells.

Mr Cassells proposed the transfer of € 220 million in
assets from the Dublin Airport Authority to the CAA which would
also assume responsibility for a € 113 million loan which was
used to part fund the construction of the new terminal building at
Cork.

The recommendations provoked controversy as, back in 2003, the
then minister for transport, Séamus Brennan, had pledged that
Cork and Shannon airports would commence business debt-free when
they separated from the Dublin Airport Authority. Mr Gantly and CAA
chief executive Pat Keohane both voted for Mr Cassells's
recommendations and were joined by fellow board members Don
Cullinane, Pat Dalton, Humphrey Murphy and Loretta Glucksman.

However, the proposal was opposed by the four worker directors
Tom O'Neill, Tony O'Connell, Mary O'Halloran and Seán Mac
Suibhne as well as Alf Smiddy while the 12th board member, Veronica
Perdissatt, abstained.

Minister for Enterprise, Trade and Employment Micheál
Martin said that he believed Mr Cassells's proposals were workable
and he predicted the CAA board would continue well.

"There are different views on what they can live with [in terms
of level of debt] but now that the board's decision has been made,
I think they are capable people and I think they should pull
together and move ahead and develop the airport," said Mr Martin
last week.

His Cabinet colleague, Minister for Transport Noel Dempsey,
yesterday paid tribute to Mr Gantly for his stewardship of Cork
Airport Authority and his commitments and achievements as
chairman.

"Over the period of his appointment he has made an excellent
contribution to the development of Cork airport. Since 2003 traffic
at the airport has grown from 2 .1 million passengers in 2003 to
3.1 million passengers in 2007," said Mr Dempsey.

"During the same period the airport benefited from a €180
million capital investment programme involving a new terminal and
other major improvement that will enable the airport to serve as an
economic gateway for Cork and its wider catchment area.

"I wish Joe every success for the future and I look forward to
working with the CAA board as it proceeds with the next steps for
the airport's separation from the Dublin Airport Authority," he
added.